Day 22 cont

Cont:

You: Phyllis is the first one, I guess.

Phyllis: I've broken the mould.
PM: Well, you're not ... you're not actually #complaining. What you're really saying is the value of [your] house hasn't gone up enough.

Phyllis: No, no, no. I disagree. I think it is ridiculous that the #inflation of house prices ... what about our #grandchildren?
PM: Well look, that is a valid point and I've acknowledged that.

I'm not saying there aren't problems for people buying for the first time, but you have to look at it in terms of both #existing #HomeOwners and #future home owners and what we have to try and do, and you quite rightly identify in relation to your grandchildren, is to find ways of mitigating the #cost of getting into your first home.

But we can't, and shouldn't do that at the cost of reducing the wealth effect and the wealth value of people who have existing properties, there's nothing to be gained by that. We have to find some other ways of #ameliorating the cost of buying your first home.

Phyllis: I think some commonsense has to be thrown into the arena just the same. You know, it's ridiculous. I mean, *you're not seeing value in the $500,000 you're spending on some broken down old dump* and…

PM: No, well...
Phyllis: That's where we are at the moment.”

#AusPol / #LNP / #Liberal / #Nationals / #Labor / #HousingCrisis <https://www.abc.net.au/news/2025-04-20/when-housing-turned-toxic-captured-in-talkback-chat-with-pm/105155458> / Original transcript <https://pmtranscripts.pmc.gov.au/release/transcript-20920>

To be honest, it fills me with dread - she’s 78, registered disabled and has a LOT of stuff. #UK #Homeowners #Rewiring #Homeownership #HouseMaintenance #Electricity

#KamalaHarris played #hardball with #banks. It delivered #billions for #homeowners.

This #chapter of #Harris’ time as #AttorneyGeneral, allies say, showed a #resolve to make #gutsy #decisions and #withstand #pressure to fall in line.

https://www.washingtonpost.com/politics/2024/10/28/kamala-harris-played-hardball-with-banks-it-meant-billions-homeowners/

"As buyers and sellers wake up to risks on a hotter planet, Cape Coral might be a preview of what millions of #homeowners throughout the country could face: a slow re-pricing of many people’s biggest asset.

Two years after [Hurricane Ian], they were still living in a trailer in their driveway. Escalating expenses and insurance delays had left them drowning in debt. To qualify for flood #insurance, they took out a $210,000 loan to elevate their home."

https://www.washingtonpost.com/climate-environment/interactive/2024/home-insurance-climate-change-housing-market/

#KamalaHarris’s recent remarks on the #economy have focused on aiding the ambitions of young #families, first-time #homeowners & #SmallBusiness owners. Today, Harris is expanding that vision, to people who are struggling to make ends meet.

“I am a #capitalist,” #Harris said, directly countering #Trump’s BS attack #lies that she is a left-wing socialist.

@ChrisMayLA6 @anarchic_teapot

You wonder what the future holds here. The number of #pensioners are set to increase. Increasing numbers of them won't have occupational #pensions and won't be #homeowners or have #equity.

Rents and #heating costs are high and without change in the #housing market and an increase investment in #renewable #energy these costs will increase. As will #food prices. Which are going up as the UK is reducing food output.

This looks like #marketfailure.

"Since most #US #insurance companies are backed by international #reinsurance companies that cover other parts of the world, #homeowners everywhere will pay the price for #ClimateChange’s global effects."

https://www.vox.com/climate/2023/7/13/23792409/floods-vermont-new-york-natural-disaster-insurance-global-climate-risk-change